I wanted to highlight the possibility for a trend reversal or at least low-risk opportunity in the US Oil Fund (USO), or at a minimum, show a large-scale structure potentially playing itself out. USO Daily: Before reading, keep in mind that there’s no guarantee this pattern will produce the expected result, but it’s worth a…
I wanted to point out a potentially significant structural change in price that developed today before the close. We have a confirmed Rounded Reversal on the 15-minute chart of the DIA which is setting up confluence support. DIA 15-min chart: Rounded Reversals can be significant because they highlight a clean shift in the balance between…
Today’s US equity index markets completed a classic “Rounded Reversal Day” pattern worth examining. Let’s see this pattern and also view the “optimal entry point” that confirmed that this structure was likely forming. DIA 5-min intraday (incomplete) chart (courtesy TradeStation): The day opened with a downside gap that quickly filled (or actually came just shy…
I noticed a really interesting version of the “rounded reversal” pattern on the intraday charts of Goldman Sachs (GS) today. Although I missed this trading opportunity, I wanted to share this as an example of a variation of the pattern and how it might have been traded successfully for a low-risk, high probability profit. Let’s…